Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.23.1
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of fair value warrant liability
                               
Description   Amount at Fair Value     Level 1     Level 2     Level 3  
December 31, 2022                                
Assets                                
Investments held in Trust Account:                                
Money Market investments   $ 204,641,162     $ 204,641,162     $ -     $ -  
Liabilities                                
Warrant liability – Public Warrants   $ 1,599,620     $ 1,599,620     $ -     $ -  
Warrant liability – Private Placement Warrants     1,439,771       -       -       1,439,771  
    $ 3,039,391     $ 1,599,620     $ -     $ 1,439,771  
December 31, 2021                                
Assets                                
Investments held in Trust Account:                                
Cash   $ 201,951,985     $ 201,951,985     $ -     $ -  
Liabilities                                
Warrant liability – Public Warrants   $ 4,998,812     $ 4,998,812     $ -     $ -  
Warrant liability – Private Placement Warrants     4,499,287       -       -       4,499,287  
    $ 9,498,099     $ 4,998,812     $ -     $ 4,499,287  
Schedule of fair value of the private placement warrants
               
    As of
December 31,
2022		     As of
December 31,
2021		  
Stock price   $ 10.06     $ 9.74  
Exercise price   $ 11.50     $ 11.50  
Dividend yield     - %     - %
Expected term (in years)     5.34       6.34  
Volatility     5.0 %     8.3 %
Risk-free rate     3.91 %     1.37 %
Fair value   $ 0.16     $ 0.50  
Schedule of fair value financial instruments
       
Fair value at February 16, 2021 (inception)   $ -  
Initial measurement of Public Warrants and Private Placement Warrants as of November 2, 2021     16,660,000  
Initial measurement of Public Warrants and Private Placement Warrants upon exercise of over-allotment on November 16, 2021     1,956,274  
Change in fair value     (9,118,176 )
Transfer of Public Warrants to Level 1 measurement     (4,998,812 )
Fair value as of December 31, 2021 - private placement warrants   $ 4,499,287  
Change in fair value   $ (3,059,516 )
Fair value as of December 31 2022 - private placement warrants   $ 1,439,771